The Three Basic Environments
There are three basic types of environments. They are all made to make business successful and they all have the same common goal to succeed and make profits. Once you understand the basics of these three environments is sole proprietorship, general partnership and corporation you will be at a great advantage in the business world.
The Three Basic Environments Learning the three basic environments will be essential in the future of the business world. That is the basis of my paper to explain through the scenario the three basic environments.
You currently work at home and don’t mind it at all. You have a little knowledge of financial skills but you have no skills on managing the business. A great idea comes to your mind that you believe everyday consumers would benefit from. You have no money or net worth so you are going to need a partner to help with the startup cost. You know that there are similar items on the market now but they have a disadvantage that you know of and that is that they are dangerous. You have no idea on how to start the production process you just know that it cost a lot of money that you don’t have. Your spouse wants to know an example of your idea because your spouse knows that it would be time consuming and want to make sure it is not in vain.
Advantages and Disadvantages
In this scenario sole proprietorship would not be the best way to go even though the startup cost will be low it would be very difficult to obtain the funds needed for the startup